Vishal Manchanda, pharma analyst at Nirmal Bang said that Dr Reddy‘s Laboratories revenue won‘t be impacted by the observation received at the Duvvada plant and has a hold rating on the stock. He said one has to wait for further clarity about the nature of observations.

Finance Minister has presented half budget for FY17-18 which will be followed by major changes in Indirect Tax law with GST getting implemented from 1st July 2017. Hence, FM has tweaked indirect tax marginally.

According to ICICI Direct, the IPO price band of Rs 805-806, the stock is available at a multiple of 35.2 times FY16 PE at the upper end of the price band. On the whole, right execution and profitable growth of these ventures remains prerequisite for an improvement in overall business performance.

Speaking to CNBC-TV18, Rahul Arora said the current valuations of IT companies do look compelling but the return on investor capital has come down substantially. Not only is the basic business model being challenged but the topline growth has also been subdued, which is why Nirmal Bang has a sell call on IT, he said.

While there is a lot of noise regarding upcoming elections and cash crunch impacting market, the main mover of market remains earning, Rahul Arora, CEO of Nirmal Bang. Market earnings have grown at a 5 percent compounded annual growth in last six years.